[CBSE] Q. 18 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 18 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

Bharat Ltd. was incorporated with a capital of ₹ 20,00,000 divided into shares of ₹ 10 each, 20,000 shares were offered for subscription and out of these, 18,000 shares were applied for and allotted. ₹ 3 per share (including ₹ 1 premium) was payable on application, ₹ 4 per share (including ₹ 1 premium) on allotment, ₹ 2 per share on first call and ₹ 3 per share on final call. All the money was received. Give necessary Journal entries and show share capital in the Balance Sheet.

[Ans.: Subscribed Share Capital – ₹ 1,80,000.]

Solution:-

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